Instead of rallying to the upperside, Bitcoin crashed tremendously and is now below a ley level 6565.10. As long as the price is below this level, we expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally is the unfolding of an impulsive wave count to the lowerside and should break below 6118.50. If this is the case, then we’ll wait for a correction to the just broken level to pick a long term short position with an ultimate target at 6000.00. At the moment, only short positions looks more ideal and can be recommended.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
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Bob Stan
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